Bolstered by surging sales of the Galaxy S7 and S7 edge, Samsung has announced its second quarter earnings for 2016, showing that profits, 8.14 trillion won ($45.2 billion), are up almost 18%, with revenue, 50.94 trillion won ($7.22 billion), also up by 5%.

These are big, big increases for Samsung - the biggest profit the South Korean company has made in over two years. This is no doubt thanks to, at least in part, a hugely profitable IT & Mobile Communications division, which has the smartphone department as part of that. Profit for the IM division was 4.32 trillion won ($3.83 billion).

Samsung also notes that the component business, manufacturing chips and displays, also saw solid performance, although profit was down 0.3 trillion won ($266 million) due to declines in the industry.

Because Galaxy S7 and S7 edge sales have been so encouraging, Samsung must be hoping for a good third quarter, saying "the release of a new large-screen flagship smartphone will help to maintain solid sales of high-end smartphones led by the Galaxy S7 and S7 edge." This, of course, is the Samsung Galaxy Note 7, which is scheduled for launch on Tuesday August 2nd.

Comments

Corey Watford

Nice. I was happy with my Note 5 and plan to trade up to the S7 come November (for the Black friday deals).
I just hope Apple continues to push Samsung to make better devices, here's to hoping that with the iPhone 7's dual stereo speakers, Samsung's S8 comes with front facing speakers.

mark

Yes clearly it's all thanks to Apple, it's not like Samsung make half the stuff in Apple's phones, or have been selling more phones long before Apple turned up late. I guess you're also thanking Apple when Samsung "copied" Apple by not having SD cards?

Just once, I'd like an Apple user thank the large number of companies that have actually done things that Apple users depend on.

Corey Watford

I'm rooting for COMPETITION among the companies not pointless fights on WHO COPIES WHOM Smh

troph

Wait, how is 8.14 trillion won = $45.2 billion, while 50.94 trillion won = $7.22 billion?

reporrted

WON = South Korean currency. The 2nd figure was probably a typo of million not trillion

Justin W

His conversion is flipped. 50.94 trillion won is actually ~45.2 billion USD, whereas 8.14 trillion won is 7.22 billion USD.

I always read this as a verb like "win - won - won".. Pretty confusing at first. ^^

Justin W

showing that profits, 8.14 trillion won ($45.2 billion), are up almost 18%, with revenue, 50.94 trillion won ($7.22 billion), also up by 5%

I think these two are backwards... 50.94 trillion won would be revenue, and 8.14 trillion won would be profit...

nullified

it is not wrong, just some grammar placements. profits, 8.14 trill. and revenue, 50.94 trill, seems right to me

Franklin Ramsey

His conversion must be wrong then. 8.14 trill won can't equal $45.2 Billion if 50.94 trill won equals $7.22 Billion.

Justin W

Actually, it is wrong. His conversion is flipped. 8.14 trillion won = 45.2 billion USD does not match up with 50.94 trillion won = 7.22 billion USD. 50.94 trillion won is actually ~45.2 billion USD, whereas 8.14 trillion won is 7.22 billion USD.

YaKillaCJ

This is what happens when you keep the ability to use SDcards. Take note all those brainwashed idiots who fail for the dumb marketing thinking it was ever a good idea to remove SDcards. Cloud is not a better replacement in any way. Nor is an SDcard gonna hinder performance.

dsignori

I am glad they added the SD card back too, but I seriously doubt this had anything to do with the sales, except for a very marginal piece of it. Most normal people don't care at all. Most people on these sites do, of course :-).

YaKillaCJ

Well at first they won't when looking for a new device. They won't read up on it, look it up or even check for it on the box. The issue is when they go to get their pictures and music accumulated over the course of the past @least year. They gonna pull the SDcard out of their S3/4/5, or Note 2/3/4 and be like hold up, where do I put this. Then U start getting returns and word of mouth happening. This effected their sales big time.

I don't believe that is the either, but it doesn't hurt. I'll take removable battery over SD any day. Portable chargers just aren't the same.

JG

I don't know if I'd say local storage beats cloud based alternatives hands down every time. For example, with Google Play Movies, I can have access to a much larger movie archive than I could ever store on my phone.

But that said, I would LOVE if Google would consider bringing removable storage back to the Nexus line (either via MicroSD or Samsung's new and faster UFS cards). Basically all of the other major OEMs, Samsung, HTC, LG, Motorola, etc have all brought the microSD back to their flagships with the dual SIM/microSD slot. The Nexus phones will stand out as basically the only flagship without.

If not (or preferably, in addition to) I would also like to see Fi offer an unlimited data option. I would be a lot more willing to use Google's Play Movies offerings if I knew it wasn't going to cost me an extra $45-60 per movie just for the data to stream it.

jOn Garrett

cloud is useless when you don't have a signal or your data plan is maxed out.

Rufflow

Glad to see I am not the only one who loves TouchWiz these days.

Bill D

Yup. So long as you slap Nova Launcher on there, which most people do with any phone these days, the experience is near-identical to the Nexus experience. I say this as someone who has been a Nexus owner since the N4.

Factor in expandable memory, true waterproof body, a compact design (in the case of the S7), that display+camera, and Samsung Pay's superior magnetic strip tech, and it's a no-brainer. At the premium end of the spectrum, there is only Samsung.

Rufflow

Also don't forget some of their apps. The browser with adblock, fingerprint login, reader mode, chrome sync and performance is also top notch

pantagruel

"chrome sync" - one way bookmarks sync on first login I suppose?

Rufflow

Have to test. But you can also see you open tabs if I am not mistaken. I don't use chrome so I don't know 100 percent sure. It works with a chrome extension from Samsung